CIMA urges businesses to introduce code of ethics

CIMA urges businesses to introduce code of ethics:

The Chartered Institute of Management Accounts (CIMA), in Its third annual report on "the company's responsible management," NOTED That the profit and ethics are not two opposing Objectives, adding That property managed and responsible business is more likely to survive long -term .it Said That many financial professionals face pressure to tolerate the bad practices of Their colleagues or unethical to behave themselves. They are still Struggling to make their way Through crisis of culture Within the company and They need to stay the course.

"Such pressure on professionals based in Pakistan rose from 51% in 2012 to 54% in 2015, According to a report, around 38% of Respondents Agreed the reports on professional ethics as troublemakers by management" added.Highlighting it causes pressure to compromise standards of conduct of business ethics for financial professionals, CIMA report Stated That 49% of professional insights to Work With colleagues from different functional areas Within the organization to be the main cause, 44% Believed meet deadlines was a cause and 39% management accounts compilation seen as the main reason.

Surveyed Out of 2,498 professionals worldwide, the report stressed, Although MOST Organizations That Have codes of ethics, only 36% of Respondents confirmed That Their ethical management Organizations collect information (EMI). "This was DESPITE an Increase in demand for data on ethical business practices, in particular, the investment community, 30% of Which users are EMI," I added.

Ethics chief Tanya Barman CIMA Said, "A lost reputation can destroy a business overnight. To avoid this, Organizations need to collect and interpret information on the ethical performance, so
When the company I can tell is on the right track and when it is About to fall off a cliff. "

She Said That Sri Lanka, with 61%, has the highest level of pressure to compromise professional ethics, followed by Malaysia With 58% and Pakistan with 54%.

She Said in United Kingdom, United States and Ireland, professionals are faced With low pressure, but an Increase of 12%, 7% and 5% was Observed since 2012, respectively, adding India esta trend has reversed, falling to 45% Against 51 % in 2012.

"Four-fifths (80%) of finance professionals thought They had a special role in the management of ethical performance and 78% believe companies That Have a role in solving the global problems: such as climate change and poverty," She Said ....